I guess, @dan. Wait, proven? That might be overstating things. Anyway, there's an out-of-band method for self-correcting this problem. Mr. Market can make his 40% worthless if it comes to that. I really don't think Dan has any faith in Mr. Market, at all.
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... I'm also lost on if it is 40% or 51%...
If he has 51% then he has 40%. Maybe Dan only approves of him having 11%.
the problem is that the steem power basically decides where the market power is. so he would be right in "not trusting the market". in a way it's just @ned jerking off with money, excuse the vulgar vocab.
Huh? What mechanism does STEEM Power decide where this "market power" is? What is "market power" anyway?
well, it's basically a wild card always giving you a more than 50% vote. the biggest whales can always turn the tables. but I might be wrong :).
Yeah, that's not what I'm talking about. I'm talking about the price of STEEM on the various exchanges. If a majority stakeholder's actions are egregious enough against the platform, they could negatively affect the price, which is a good thing because it would ultimately impact distribution.
So the goal of a majority stakeholder is not to let that happen, for the sake of the platform. It's their stake, so it's in their best interest.